| Report Date | |
| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months | |
| Annualised Since Inception | |
| Inception Date | |
| FUM (millions) | |
| Fund Overview | PanAgora believes the best way to find opportunities in the global markets is to combine fundamental analysis with robust quantitative techniques in order to filter the investment universe and select the investments. The Fund invests primarily in listed equity securities from a global universe of developed markets and a select group of emerging market countries. The Fund's objective is to seek absolute returns by identifying and exploiting multiple inefficiencies that may exist in global equity markets. These inefficiencies are primarily exploited through the use of a long/short equity strategy which aims to construct a portfolio that is generally neutral to market movements. As such the performance of the investment strategy is largely independent of the market's performance. The Fund seeks to achieve its objective by using a diversified set of strategies that have low correlation to one another. In addition, because many of these strategies are designed to generate profit under different market conditions, their combination is expected to result in more stable returns over time than any individual strategy in and of itself. |
| Manager Comments | The March performance was driven by the long-term portfolio (+0.61%), primarily from the U.S. sleeve. The U.S. portfolio contributed +0.84% to performance, with Information Technology and Health Care, being the top performing sectors (+0.44% and +0.34% respectively). A short position in Palo Alto Networks, Inc was the top contributor in the portfolio (+0.30%). However, the international portfolio detracted -0.23%, largely due to the reversals in the post-US election reflation trade, which resulted in stocks that benefit the most from rising GDP growth and firmer monetary policies to underperform in March. The intermediate-term portfolio also detracted slightly (-0.02%), while the short-term portfolio ended flat for the month. |
| More Information |
